Range Resources reports it paid an average of $80,000 per landowner in upfront payments for leasing in Washington County, PA. That sounds like a pretty good pay day and that’s before royalties kick in.
“Plenty of southwestern Pennsylvanians view Marcellus Shale as a driving economic engine of the region’s future.”
” ‘We’re just scratching the tip of the iceberg,’ said Donora manager Dennis Fisher. ‘These wells are going to produce for the next 45 to 50 years, and the economic impact is going to be tremendous.’ ”
“But who exactly will reap the rewards?”
“No hard numbers exist detailing how many people have leased their mineral rights. But Range Resources, the area’s biggest player, said that since 2008, it has made about $800 million in upfront payments to more than 10,000 landowners in Washington County, which averages out to $80,000 per leaseholder.”
“That amounts to perhaps 5 percent of the county’s 207,000 residents.”
Read the full news release at post-gazette.com